Brief: Pierre & Vacances FY Adjusted EBITDA At Eur 105 Mln

Pierre Et Vacances SA

01/12/2022 07:14

Dec 1 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * PIERRE & VACANCES-CENTER PARCS FULL YEAR 2021/2022 RESULTS
    * FY REVENUE FROM TOURISM ACTIVITIES: +13.1% RELATIVE TO
2018/2019
    * FY ADJUSTED EBITDA EXCLUDING BENEFITS OF NON-RECURRING
ITEMS:
EUR 105 MILLION
    * GROSS CASH: EUR 470 MILLION ON 30 SEPTEMBER 2022
    * FY NET PROFIT AMOUNTED TO EUR 325.0 MILLION
    * GIVEN UNCERTAIN CURRENT INTEREST RATE ENVIRONMENT, GROUP
HAS
DECIDED TO HEDGE ITS ALMOST EXCLUSIVELY VARIABLE RATE DEBT
AGAINST A SIGNIFICANT INCREASE IN INTEREST RATES BY SETTING UP
CAP OPTIONS
    * GROUP HAD A NEGATIVE DEBT POSITION ON 30 SEPTEMBER 2022,
AFTER
COMPLETION OF RESTRUCTURING OPERATIONS ON 16 SEPTEMBER 2022
    * GROUP CONFIRMS ITS TARGETS TODAY
    * GROUP IS ALSO WORKING ON ADDITIONAL SAVINGS PLANS (OPEX
AND
CAPEX), THAT IT COULD ACTIVATE IF ECONOMIC BACKDROP WERE TO
BECOME LESS BENEFICIAL

Source text for Eikon:  ID:nBw7szNrPa 
Further company coverage:  PVAC.PA 
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